The periodic correction of the market is also expected. Let’s first predict the short-term market bottom. Bitcoin is $58,000 and Ethereum is $3,000. We do not rule out going even lower.
As for the reasons for the decline, I think there are two points: in the past month, the tariffs have been maintained at high prices for most of the time, and the annualized rate of unilateral calculation has exceeded 100%. The capital cost borne by the bulls is difficult to maintain, and once it goes sideways, it will gradually become worse. The withdrawal of funds eventually led to this wave of decline.
On the other hand, the pie has doubled from the low point. Although it broke through the historical high in a short period of time, it fell back to below 70,000 US dollars in the following days, and the remaining benefits of ETF have also been exhausted, whether it is Both the financial and emotional aspects paved the way for this decline.
If you look at it over a longer period, when the market reaches $100,000, this may just be a minor episode.
The narrative of the encryption circle is rotating. If the end of the Meme sector is used as a reference in this round, then the public chain will still come out first when the next round of market starts.
Especially with the recent rapid rise of SOL, the market tends to give crazy valuations to the infrastructure sector. Not to mention exceeding the market value of ETH, it is not impossible to achieve a market value of hundreds of billions of dollars.
I have selected some L1 projects with great potential, and you can take advantage of this callback to enter in batches: AVAX, APT, FTM, SUI, SEI, NEAR, INJ, TIA.
Get ready for Q2 2024: I’ve curated some of the key upcoming events and catalysts for your reference.
1. Bitcoin Halving - April 17, 2024
While there are various predictions about the halving, the undeniable fact is that the block reward will be reduced from 6.25 BTC to 3.125 BTC, thus halving the rate of Bitcoin issuance.
2. Stacks Satoshi upgrade - April 2024
The upcoming upgrade will introduce smart contracts to Bitcoin, as well as a new token called sBTC. The token is equivalent to 1 BTC and will run on the Stacks chain as a representation of native BTC.
3. Eigenlayer full-width mainnet - second quarter of 2024
The successful launch of Ethereum Dencun served as a catalyst for numerous upgrades, one of which is the upcoming Eigenlayer and Eigen DA mainnet.
4. Fraxfinance: Fraxtal integrates NEAR DA - second quarter of 2024
Fraxfinance revealed its partnership with NEARProtocol in a recent announcement. A key highlight of the collaboration is the upcoming integration of Near DA into Fraxtal, Frax’s L2 platform.
5. Arbitrum LTIPP - Second Quarter of 2024
The project team is preparing to launch a 21-week long-term incentive pilot program for the Arbitrum protocol.
dApps are expected to begin accepting Arbitrum incentives as early as April.
Budget: $45.7 million $ARB
6. Blast_L2 airdrop - May 2024
Mark your calendars for the highly anticipated Blast airdrop happening on this day.
Likewise, Blur_io, the NFT marketplace from the creators of Blast, plans to end its active user rewards season in May.
7. Balancer v3 - Second Quarter of 2024
In the upcoming release of Balancer v3, the focus will be on standardizing DeFi functionality across pool types and enhancing Balancer’s functionality as a base layer for AMMs.
8. Entanglefi mainnet launch - April 2024
Entangle is gearing up to launch its mainnet in April, following the huge success of TGE and impressive APRs for token sale participants.
9. The most anticipated airdrops and TGE events that may occur in the second quarter of 2024:
• ThetanutsFi - $NUTS
KaminoFinance - $KMNO
• Ionet_official - $IO
• Ownlayer -$OWN
• LayerZero_Labs - $ZRO
• Zksync - $ZKS
• Berachain - $BERA
Remember, if you view your position as a long-term investment, market declines should be viewed as a gift. It provides the opportunity to purchase more tokens.
Finally, it's crucial to develop a strategy before making any purchase, and never invest all of your money.
I hope this topic is helpful to you, 🙏Thank you for your likes and support👍
